WILL AMERICA TIRE OF TAKING OUR MONEY?

Auckland Star, Volume LIV, Issue 81, 5 April 1923, Page 8

WILL AMERICA TIRE OF TAKING OUR MONEY?

BOOMERANG PAYMENTS. In a conversation with a London press representative Sir Allan Smith. M.P., who is chairman of the Engineering Employers' Federation nnd chairman of the British Commonwealth Union, expressed his views on the subject of international debts. Hi's surro-estion is that there should be one effective scheme for dealing with tlie international obligations arising from the war. first by ascertainment of the amounts and second by funding those amounts, the scheme to include (ierman reparations as well as war debts. Sir Allan Smit 1 said: "It may seem somewhat of a paradox, but the probability is that in perhaps ten years after the complete funding of international debts the countries who are creditors may be tired of receiving payment, in money to the detriment of their trade, and will find it to their advantage to meet agnin and consider whether or not these international dehts and credits should he liquidated and discharged. Tt has not been to the advantage of this country and the Allies to receive reparations fropi Germany. It stimulates Oerman tratle and i Ve suffer from unemployment. The Americans may find that it is not to their advantage to receive money from us even on the funded debt. They may find it more to their advantage to be free to expand their trade It is therefore worth while to consider whether it would not be to the advantage of all the nations, with the view to the final disposing of these debits and credits, that they should immediately take the first step to funding fhe.whole of the international debts"